Power Cos., Orlando Want Holding Co. To Share CERCLA Costs

Law360, New York (July 12, 2012, 5:33 PM EDT) -- Three power companies and the city of Orlando on Wednesday lodged a suit against Continental Holdings Inc. in Florida federal court demanding funding for environmental remediation efforts at a Superfund site, arguing that the investment holding company is the corporate successor to the site's former operator.

Progress Energy Inc. unit Florida Power Corp., Atlanta Gas Light Co. and Tampa Electric Co. subsidiary People's Gas System joined Orlando in going after Continental Holdings for contribution costs under the Comprehensive Environmental Response, Compensation and Liability Act.

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